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if Banks don't report payment amounts on credit report, does it constitute FCRA violation?


Jacknyc
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2 hours ago, Jacknyc said:

Hi

If Banks do not report payment amounts for the credit card, how can this affect consumer? would it constitute FCRA violation?

 

It’s not required to be reported.  All the FCRA requires is that the information that is reported be accurate.  So, even though reporting payment amounts might be a good idea, there can be no FCRA violation for failing to report something that is not required to be reported.  

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On 5/22/2023 at 12:15 PM, Jacknyc said:

Hi

If Banks do not report payment amounts for the credit card, how can this affect consumer? would it constitute FCRA violation?

 

It is not required that they report anything, but what the DO report has to be accurate.

On 5/22/2023 at 12:15 PM, Jacknyc said:

Hi

If Banks do not report payment amounts for the credit card, how can this affect consumer? would it constitute FCRA violation?

 

 

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